WEB3
by BSCN
September 4, 2023
LSEG is considering establishing a dedicated entity for this blockchain initiative and has stated that the move does not involve cryptocurrencies.
Summary
In a significant development, the London Stock Exchange Group (LSEG.L), one of the world's oldest stock exchanges, is charting a course toward blockchain-based trading of traditional financial assets, as reported by the Financial Times.
Murray Ross, Head of Capital Markets at LSE Group, stated that the company has reached an "inflection point" after nearly a year of exploring the potential of integrating traditional markets with blockchain technology. Crucially, Ross emphasized that this initiative does not involve cryptocurrencies; instead, it leverages blockchain's efficiency in buying, selling, and holding traditional assets, aiming for a smoother, cheaper, and more transparent process while maintaining regulatory compliance.
Blockchain technology, renowned for its distributed and immutable ledger, serves as the backbone for tracking assets and recording transactions within business networks.
According to reports, LSE Group is contemplating the establishment of a separate entity dedicated to blockchain-based markets and is actively engaged in discussions with regulatory bodies, multiple jurisdictions, and the UK government and Treasury.
This strategic move aligns with the growing trend of traditional finance institutions exploring blockchain to tokenize assets like gold and US Treasury notes, signaling a transformative shift in the financial industry.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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